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Please create the Bond Discount Amortization Table. I promise to give thumbs up to the correct answer ! On May 1, 2024, Cullumber Corp. issued
Please create the Bond Discount Amortization Table. I promise to give thumbs up to the correct answer !
On May 1, 2024, Cullumber Corp. issued $905,000 of 5-year, 5% bonds at $866,401. This price resulted in an effective interest rate of 6% on the bonds. The bonds pay interest semi-annually on May 1. Cullumber's year end is April 30. Date May 1, 2024 Interest Payment Interest Expense Discount Amortization Bond Carrying A Nov. 1, 2024 May 1, 2025 Nov. 1, 2025 May 1,2026 Nov. 1, 2026 May 1, 2027 Nov. 1, 2027 May 1, 2028 Nov. 1, 2028 May 1,2029Step by Step Solution
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